Own Capital and Production

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OWN CAPITAL

  • What it means: Using your own savings or money to start your business.

  • Why it’s good: No need to borrow or pay interest.

  • Why it’s risky: You might lose your own money if the business fails.

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PRODUCTION OF GOODS & SERVICES

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1.

Goods

– Things you can touch and buy (e.g., bread, clothes).

2.

Services

– Things people do for you (e.g., haircut, taxi ride).

3.

Producer

– A person or business that makes goods or provides services.

4.

Subsistence Farming

  • What it is: Growing food mainly for your family, not to sell.

  • Example: A small garden farm for home use.

5.

Green Policy

  • What it is: Rules a business follows to protect the environment.

  • Examples: Recycling, saving electricity, using less plastic.